Young singles in their twenties earning an annual salary of $30,000 or more will pay at least $2,484 a year in Obamacare premiums even after receiving tax credits from the federal government, according to the Kaiser Family Foundation’s health insurance marketplace calculator.
The calculator estimates the cost of health insurance premiums and subsidies for individuals purchasing Obamacare silver plans by considering various metrics including income, age and family size.
For a single, non-smoking adult aged 21 to 29 with no dependents, the U.S. average premium for those making an annual salary of $30,000 is $207 a month, or $2,485 annually, even after receiving subsidies from the federal government.
For individuals in this demographic who are between 21 and 26 years of age, the tax subsidies stop after one earns a salary of $36,000 or more, meaning the cost of premiums would increase to $282 a month, or $3,384 a year.
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